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Non-banking finance company (NBFC) SMFG India Credit is targeting ₹60,000 crore of assets under management (AUM) by the end of the current fiscal from ₹46,500 crore as of Q1FY25, said Shantanu Mitra, CEO & MD of SMFG India Credit.
Today, the NBFC launched its 1,000th branch in Navi Mumbai. “We will double our branches in our affordable housing subsidiary, Grihashakti from 175 currently and total assets from ₹9,500 crore currently with expansion planned in Tier II towns and below, in semi urban areas,” Mitra said.
He added that SMFG India Credit may require ₹2,000 crore of fresh capital from parent Sumitomo Mitsui Financial Group by 2026 to support growth plans.
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